| Fed auctions another $75B to ease credit stresses: Financial News - Yahoo! Finance Yahoo! My Yahoo! Mail Welcome, Guest [Sign Out, My Account] Finance Home - Help Home Investing Market Overview Market Stats Stocks Mutual Funds ETFs Bonds Options Industries Currency Education News & no doc jumbo home loans Opinion Markets Investing Ideas Expert Advice Special Editions Company Finances Providers Personal Finance Banking & Budgeting Career & Work College loans with bankruptcy & Education Family & Home Insurance Loans Real Estate Retirement Taxes How-to Guides Tech Ticker Get Quotes Finance bad credit signature loans Search 8988914 AP Fed auctions low interest rate mortgage loans another $75B to ease credit stresses Tuesday August 26, 11:43 am ET By Jeannine Aversa, AP Economics Writer Fed auctions another $75 billion to banks to help ease credit stresses WASHINGTON (AP) -- The Federal Reserve has auctioned another $75 billion in loans to help squeezed banks overcome their first horizon home loans wholesale credit problems. The central bank on motorcycle loans for bad credit Tuesday released the results consolidate student loans of its most recent auction. It's part of an car loans without credit ongoing program started in December that seeks to ease financial turmoil and credit stresses. Those problems -- along with the housing slump -- have badly bruised the economy. In the latest auction, commercial banks paid an interest rate of 2.38 contract for personal loans percent for the 28-day loans. There were 66 bidders. The Fed received bids for $84.17 billion worth of the loans. The auction was conducted loans for lots on Monday with the results made public on Tuesday. The ca no income loans Fed earlier this month offered the loans for an extended period of 84 days, rather than the customary 28-day period. The central bank has taken a number of unconventional steps over take out loans to invest the past year to help shore up unsecred loans for bad credit the financial market and relieve credit problems. In the broadest expansion of its lending powers since the 1930s, the Fed agreed in March to let small business loans or grants investment houses draw emergency loans directly from the central bank. At the time, the Fed feared other investment banks bad credit home equity loans could be in jeopardy after a run on Bear Stearns Cos. pushed it to the brink of bankruptcy. As part of JPMorgan Chase & Co.'s ace loans colorado springs takeover of the failing company, the Fed provided a $28.82 billion loan. In July, the Fed said troubled mortgage giants Fannie Mae and us department of education loans Freddie Mac home building loans also could tap the program. For years, such lending privileges were extended only best fixed rate loans to commercial banks, which are subject to stricter regulatory supervision. Shares of Fannie and Freddie have rebounded a bit this week cypress home loans roseville ca after recent concerns over their capital-raising abilities and northeast title loans the prospect of a government bailout have caused both of their stocks to plunge. The Fed also is letting investment firms swap risky investments for super-safe student loans no credit Treasury securities. Some critics worry the Fed actions could put taxpayers on the hook for billions of dollars and create a "moral hazard," car loans for bad credit where financial companies might cash advance loans feel more inclined to take extra risks in the future because they believe the Fed will ultimately bail them out. Email Story Set News Alert Print Story Copyright national student loans association © 2008 Yahoo! Inc. All rights reserved. Privacy Policy - Terms student loans with no cosigner of Service Copyright leveraged loans © 2008 The Associated Press. All rights reserved. The info about secured loans information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of federal and government debt loans The Associated Press. |